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-cuttingest democrat in the history of the republic. and the bush tax rates will be replaced by the obama tax rates. so he knows he's in a better position than they are. the question is as the clock ticks down and markets become anxious and capital becomes scarce and people are worried about what's going to happen out there, that the president has to think as much as he'd be better off then -- and, certainly, senator barrasso makes a good point about that -- the president's going to have some gut-check moments while he's out on the golf course and looking at the blue pacific, he's going to have to think can his second-term presidency really begin in the midst of a recession, and is he going to be okay with that? gregg: all right, so the clock is ticking, but there's another clock we're keeping a close eye on. i mean, we're talking about the debt clock. look at that, $16.3 trillion and growing second by second. and the president instead of focusing on cuts, he actually demanded even more spending, new stimulus, additional spending. maybe he doesn't think that $16 trillion is a real problem even though y
. dre move his business dealings over to ireland? because of their low corporate tax rate. big obama supporter. for all of you people wearing beats headphones that money is going through ireland now because of that problem. heather: okay. before we get off on dr. dre, let's talk a little bit what is going on now, 30 minutes from now, any moment, they're starting to arrive, we have boehner, pelosi, mcconnell, reid. they're on capitol hill. what can president obama offer that both sides can agree to. >> unfortunately for individual members of the republican house it is to their interest to let tax increases go into effect. that way they won't be viewed as having raised taxes. they can come in and easier to negotiate with them. what the president, what we are hearing about what the president is proposing though, is a small deal to get them through the fiscal cliff so that it avoids some of the implications, some of the more damaging implications for the economy. i don't think the fiscal cliff honestly is really going to have a huge impact. our housing market and labor market remained fi
. >> the dow industrials had gone up about 90 points when the news of president obama's presentation hit the market. the short-term reaction is a gain for the stock market. whether this pans out over the longer term is another story entirely. rick: tax hikes. i mean this has been anathema to republicans. it seems again this the reports are true that republicans are willing to let the bush tax cuts expire for some people, and the argument has been all along that that is going to hurt small businesses. i'm just wondering your thoughts on that, if there are republican lawmakers in washington who are going to go along with letting tax rates go up on anybody, what is that going to mean? >> if tax rates go up on upper income people, small business will be hurt. it will affect the economy. but there won't be that much impact on the deficit. if you raise taxes on people making more than $250,000 a year the congressional budget office says you bring in to the treasury maybe 82, $85 billion. but we're already talking about spending 60 billion of that for hurricane sandy relief in new jersey and ne
. because president obama perfectly going over the fiscal cliff to blame republicans because he can't default on the debt. he will have to compromise between now and february. second of all the baseline gets reset if the tax cuts expire. everybody will propose a tax cut in january and right now we're fighting whether to increase taxes or not. you can see possibility of a deal seen as win-win for both sides. third, if republicans don't come up with a deal, a bad deal right now, they still have the $800 billion in revenue they put on the table from limiting deductions and loopholes that they can use to buy down rates. so i think the odds are, after january 1 we will get a deal and it will be much more favorable deal to the republican party because we'll have the leverage and president obama won't. heather: simon, basically what mark's laid out there would be more of a bunge jump over the cliff instead after nosedive, what do you think about the possibility, good thing or bad? >> i think it is going to happen whether it is good or bad. hopefully in the first week to 10 days of the new
on plan c which president obama says would be dealing with short-term issues like two million people who are losingen employment benefits in a week, dealing with the tax issue as you say. he wants to go back to the threshold of 250,000 or more taxes go up, 250 or lower, taxes stay at the bush rates, the lower rates. but in a short-term deal like that, the president said last friday that spending cuts would come later next year at some point, and republicans like speaker boehner are saying if taxes are going up on some, they don't want to just have more revenue coming into the government to spend it on other programs. now, before heading back tonight, as you noted, the president went through with a christmas tradition when he comes out here to hawaii for the holidays. he and the first lady went to visit some troops at a u.s. marine base here, and he had a very simple, direct message. take a listen. >> so we know that it's not easy, but what we also want you to know is that you have the entire country behind you, and all of us understand that we would be nowhere without the extraordinary s
Search Results 0 to 4 of about 5